How to deal with debt - a 3-step guide
A resource from The Money Advice Trust
The Trust offers a number of resources for free-to-client advice agencies, including their ‘How to deal with debt’ guides. The new 'How to deal with debt' guide for England and Wales is now available for free download or to order in a print version. The revamped guide uses behavioural insight techniques and has gone through extensive user-testing to maximise the chances of people using it taking the steps they need to deal with their debts.
To help you get the most of the guide, they have compiled handy tips on how to use the guide (England and Wales) with the people you support.
Their 'How to deal with debt' guide (England and Wales) sets out three steps:
Step 1: Know what you’ve really got. This step takes users through completing an accurate and sustainable budget that is compliant with the Standard Financial Statement (SFS).
Step 2: Maximise your money. This steps looks at how users can increase income and reduce expenditure.
Step 3: Choose your debt solution. This step looks at the different solutions for dealing with debts and how to engage with creditors.
They also have 'Dealing with your debt' guides available for people in Scotland and Business Debtline which can be dowloaded or ordered.
Download or order here
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